Taxes General Forum

foreign tax credit

Hello everyone, I had this discussion with my CPA a while ago, we can't seem to agree. An individual has domestic (US)...

7 comments posted 8yrs

posted by paso.yossarian

7 comments posted 8yrs posted by paso.yossarian

property tax check sent in December 2017 but not cashed until January 2018. Deductible?

Subject line about sums it up. It was dumb on my part not to realize that there was a chance the check would not get pr...

20 comments posted 8yrs

posted by jblatz2

20 comments posted 8yrs posted by jblatz2

Tax Plan Calculator Updated 12/20/17. Is it any good?

Has anyone tried this calculator which claims to have all of the new tax law incorporated into it? http://taxplancalcul...

4 comments posted 8yrs

posted by njoracle

4 comments posted 8yrs posted by njoracle

Who is the greatest tax CPA

According to no less an authority than the president of the United States, it is Donald Trump. "I know the details of t...

1 comments posted 8yrs

posted by dontspamme

1 comments posted 8yrs posted by dontspamme

Confusion about pre paying real estate taxes

I heard on the news yesterday that according to the new tax law the IRS will not allow pre paid RE taxes to be deducted...

2 comments posted 8yrs

posted by jblatz2

2 comments posted 8yrs posted by jblatz2

Roth conversion

My wife and I have been great savers, I'm 63 next year (married, self employed) and think it might be wise to start Rot...

1 comments posted 8yrs

posted by nojunk

1 comments posted 8yrs posted by nojunk

Question on Write Offs

My husband and I have a partnership ( Form 1065) for tax purposes. We are thinking of buying a "used" car for the busin...

0 comments posted 8yrs

posted by ginafinnigan

0 comments posted 8yrs posted by ginafinnigan

Foreign Tax Credit for Popular Foreign Dividend Payers

On my prior years' Form 1040s, I have not used the foreign tax I paid on stock dividends from popular foreign companies...

0 comments posted 8yrs

posted by honda.lioness

0 comments posted 8yrs posted by honda.lioness

New Standard Deduction

Will the standard deduction for 65+ in new tax plan being increased also?

5 comments posted 8yrs

posted by bh2os62

5 comments posted 8yrs posted by bh2os62

Schedule C Income (tax bill question)

I was waiting for someone else to ask this, maybe it hasn't been discussed because no one knows yet. Is it true that if...

8 comments posted 8yrs

posted by dontspamme

8 comments posted 8yrs posted by dontspamme

Passive Loss Limitations

Are there changes coming wth the Trump Tax Bill relating to passive losses? I was reading through the bill trying to ma...

5 comments posted 8yrs

posted by 12vman

5 comments posted 8yrs posted by 12vman

Another Strategy under the Tax Reform Act

With the changes to tax brackets, I'll be going from a marginal rate of 25% to 24%, with the ceiling of the 24% much hi...

1 comments posted 8yrs

posted by greekgod

1 comments posted 8yrs posted by greekgod

2018 Property Tax and January 2018 Mortgage Payments in 2017

My property tax is invoiced in July for payments in July and December, so for the July 2017 - June 2018 fiscal year, I...

10 comments posted 8yrs

posted by greekgod

10 comments posted 8yrs posted by greekgod

Tax Bill Summary

IMHO this is the best summary. https://www.kitces.com/blog/final-gop-tax-plan-summary-tcja-2017-individual-tax-brackets-...

4 comments posted 8yrs

posted by tempuser

4 comments posted 8yrs posted by tempuser

What controls if a property tax prepayment is deductible?

As we all probably know here by now :), the presumably soon-to-be-law tax bill does not deny a deduction for 2017 prepa...

10 comments posted 8yrs

posted by rlc-news

10 comments posted 8yrs posted by rlc-news